Colliers International Group Inc. announced its third-quarter 2024 operating and financial results, reporting revenues of $1.18 billion, an increase of 12% year-over-year, or 11% in local currency. Adjusted EBITDA rose 7% to $154.6 million, and adjusted EPS increased 11% to $1.32 from $1.19 in the prior year quarter.
The company's Engineering segment saw significant growth, with revenues jumping 22% to $316.6 million, or 21% in local currency, driven by strategic acquisitions. Real Estate Services revenues grew 9% to $734.9 million, with Capital Markets transaction volumes up 17% against a low base in the prior year.
Investment Management revenues increased 7% to $127.4 million, though fundraising remained below expectations, leading to a revised 2024 outlook. Assets Under Management (AUM) grew by $2.4 billion during the quarter, reaching $98.8 billion as of September 30, 2024.
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